Terra of Uncertainty

Precious metals continue to disappoint, while USD continue to sink. Looking at charts of gold and silver, it seems that we didn't complete the movement and have to push a bit higher. At the same time gold to silver ratio remains in the area of uncertainty

Should we cross the blue line and it will send a warning that liquidity is dissipating and the risk assets will be put under pressure.
In the equity space, big caps continue to outperform small ones and techs have clearly lost their leadership. Investors are still bidding stocks, but becoming more defensive.